HSH performs major impairments on shipping

HSH Nordbank doubled its profit in the first half of the year as the size of the bank's deferrals on loans to shipping declined, according to the bank's 2nd quarter interim report.

The world's largest shipping bank, German HSH Nordbank, has been and is still struggling with its major exposure to the shipping industry. Loans to German shipping, in particular, are weighing the bank down.

But there is a growing sense of optimism in the bank's 2nd quarter interim report. HSH Nordbank achieved a net profit of EUR 300 million in the first half of the year, an improvement from EUR 131 million in the same period last year. Meanwhile, deferrals on losses and lending decreased to EUR 237 million, from EUR 463 million in the first half of 2013.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

CEO appoints new J. Lauritzen investment team

Kristian Mørch, the former CEO of Odfjell and current CEO of investment firm J. Lauritzen, has already constructed his new team, which involves both shipping and investment industry professionals.

Further reading

Related articles

Latest news

See all jobs